PANews reported on March 20 that according to Reuters, Jan Kubicek, a member of the board of directors of the Czech Central Bank (CNB), is "skeptical" about including Bitcoin in the bank's huge reserve assets, mainly worried about its legal uncertainty and the volatility of digital currencies. Earlier this year, Ales Michl, governor of the Czech Central Bank, proposed to take Bitcoin into consideration, and the bank has begun to analyze the possibility of expanding the asset class in its reserve portfolio. Eva Zamrazilova, deputy governor of the Czech Central Bank, once said that Bitcoin is not a suitable reserve asset.
"We will evaluate different categories of assets, and Bitcoin is just one of them. I am quite skeptical about Bitcoin," Kubicek said in an interview on Tuesday. He pointed out that the legal status of Bitcoin is a problem, and holding Bitcoin directly will mean that many new processes need to be developed in accounting or auditing, etc. He also mentioned that volatility is another concern and it is difficult to assess market price trends. He said: "We cannot be sure whether the volatility of Bitcoin in the next few years will be similar to the patterns observed in the past decade, because I doubt that if more institutional investors accept Bitcoin as an investment asset, it will perform differently from what we have seen so far."
Kubicek said the bank’s studies on new asset classes, which could be completed by October, could explore holding international corporate bonds as well as investing in more targeted stock indexes such as technology and real estate investment funds.
